Multifamily Mortgage Business Lender Memo 12-04

Multifamily Mortgage Business Lender Memo12-04

May 1, 2012

To:Multifamily Lenders

From:Joanne Schehl, Vice President and Deputy General Counsel

Subject:Fannie Mae 2011 Multifamily Mortgage Business Form Loan Documents

HIGHLIGHTS
Fannie Mae announces the publication of new 2011 Multifamily Form Mortgage Loan Documents and revisions to certain of the previously published 2011 Multifamily Form Mortgage Loan Documents.

We are pleased to announce the publication of additional Fannie Mae 2011 Multifamily Form Mortgage Loan Documents (the "2011 Loan Documents"). The newly published documents are:

Modifications to Multifamily Loan and Security Agreement (Waiver of Imposition Deposits), Form 6228; and
Acceptable State Super Lien Statutes, Form 6463.

We are also revising certain of the 2011 Loan Documents previously published to make various ministerial, corrective or conforming changes. The newly revised documents are:

Modifications to Multifamily Loan and Security Agreement - Schedule 2 Addenda - Summary of Loan Terms (Replacement Reserve - Deposits Partially or Fully Waived), Form 6102.04;
Modifications to Multifamily Loan and Security Agreement - Schedule 2 Addenda - Summary of Loan Terms (Replacement Reserve - Alternate Funding), Form 6102.05;
Modifications to Multifamily Loan and Security Agreement (Supplemental Lien – Refi Plus – Senior Loan Terms), Form 6201;
Modifications to Multifamily Loan and Security Agreement (Condominium Provisions), Form 6202;
Modifications to Multifamily Loan and Security Agreement (Supplemental Lien – Senior Loan Terms), Form 6211;
Amendment to Security Instrument (Spreader - Choice Refinance Commitment Obligations), Form 6301;
Amendment to Security Instrument (Spreader – DUS ERL Commitment Obligations), Form 6302;
Modifications to Security Instrument (Supplemental Lien – Refi Plus – Senior Loan Terms), Form 6303;
Modifications to Security Instrument (Supplemental Lien – Senior Loan Terms), Form 6313;
Amendment to Security Instrument (Spreader – Refi Plus Commitment Obligations), Form 6416;
Section 8 – Housing Assistance Payments (HAP) Contract Review Sheet and Certification, Form 6422;

Interest Rate Cap Reserve and Security Agreement, Form 6442; and
Assumption and Release Agreement (Full Property and Loan Assumption) (Pre-2011 Loan Documents), Form 6461.

Both the newly published 2011 Loan Documents and clean versions of the revised 2011 Loan Documents are now available on the 2011 Loan Documents page on Redlined versions of the revised 2011 Loan Documents are attached via the links below:

Form6102.04 - Modifications to Multifamily Loan and Security Agreement – Schedule 2 Addenda – Summary of Loan Terms (Replacement Reserve – Deposits Partially or Fully Waived)

Form 6102.05 - Modifications to Multifamily Loan and Security Agreement – Schedule 2 Addenda – Summary of Loan Terms (Replacement Reserve – Alternate Funding)

Form6201 - Modifications to Multifamily Loan and Security Agreement (Supplemental Lien – Refi Plus – Senior Loan Terms)

Form 6202 - Modifications to Multifamily Loan and Security Agreement(Condominium Provisions)

Form 6211 - Modifications to Multifamily Loan and Security Agreement (Supplemental Lien – Senior Loan Terms)

Form 6301 - Amendment to Security Instrument (Spreader – Choice Refinance Commitment Obligations)

Form 6302 - Amendment to Security Instrument (Spreader – DUS ERL Commitment Obligations)

Form 6303 - Modifications to Security Instrument (Supplemental Lien – Refi Plus – Senior Loan Terms)

Form 6313 - Modifications to Multifamily Security Instrument (Supplemental Lien – Senior Loan Terms)

Form 6416 - Amendment to Security Instrument (Spreader - Refi Plus Commitment Obligations)

Form 6422 - Section 8 - Housing Assistance Payments (HAP) Contract Review Sheet and Certification

Form 6442 - Interest Rate Cap Reserve and Security Agreement

Form 6461 - Assumption and Release Agreement (Full Property and Loan Assumption) (Pre-2011 Loan Documents)

Effective Date

The new and revised Loan Documents listed in this Lender Memo may be used immediately. Usage is mandatory in connection with all Mortgage Loan commitments from and after June 1, 2012.

Questions

If you have questions regarding this Lender Memo or the 2011 Loan Documents, please contact your Deal Team or either of the following individuals:

Gary K. Fordyce at (202) 752-8265 or

Brian S. McEvoy at (202) 752-7594 or